EX-12.1 2 lo-ex121posam_814338.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 LabOne, Inc. and Subsidiaries Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends (in thousands, except ratios)
Years Ended December 31, ------------------------------------------------------------ 2004 2003 2002 2001 2000 ---- ---- ---- ---- ---- Ratio of Earnings to Fixed Charges 6.46 4.20 2.87 1.12 1.48 Earnings before income taxes $40,435 32,704 24,265 2,101 1,371 Add: Fixed charges 7,394 8,833 10,417 4,919 2,850 Amortization of capitalized interest Distributed income of equity investees Pre-tax losses of equity investees Less: Capitalized interest (51) - - - - Preferred dividends, grossed up - (4,409) (4,791) (1,525) - Minority interest in pre-tax earnings of subsidiaries that do not have fixed charges - - - - - ------------------------------------------------------------ Earnings for ratio purposes $47,778 37,128 29,891 5,495 4,221 Fixed charges: Interest expense (including amortization of bond issue discount, and debt issuance costs) $5,144 3,017 4,486 2,658 2,512 Capitalized interest 51 - - - - Interest portion of operating lease expense(1) 2,199 1,407 1,140 736 338 Preferred dividends, grossed up - 4,409 4,791 1,525 - ------------------------------------------------------------ Fixed charges $7,394 8,833 10,417 4,919 2,850 ------------------------------------------------------------ (1) Represents one-third operating lease expense Actual Preferred dividends - $ 2,699 2,932 933 -
(1) Represents one-third operating lease expense